Almanack Investment Partners LLC. acquired a new position in Fox Co. (NASDAQ:FOXA – Get Rating) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,474 shares of the company’s stock, valued at approximately $76,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Raymond James Financial Services Advisors Inc. boosted its stake in shares of FOX by 13.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 20,289 shares of the company’s stock worth $800,000 after purchasing an additional 2,440 shares during the period. American Century Companies Inc. lifted its stake in FOX by 2.6% in the first quarter. American Century Companies Inc. now owns 56,001 shares of the company’s stock worth $2,210,000 after purchasing an additional 1,428 shares during the last quarter. US Bancorp DE boosted its position in shares of FOX by 34.7% during the first quarter. US Bancorp DE now owns 12,614 shares of the company’s stock valued at $498,000 after buying an additional 3,249 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of FOX by 6.4% during the first quarter. PNC Financial Services Group Inc. now owns 24,691 shares of the company’s stock valued at $974,000 after buying an additional 1,486 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of FOX by 196.3% during the first quarter. Acadian Asset Management LLC now owns 2,717 shares of the company’s stock valued at $107,000 after buying an additional 1,800 shares during the last quarter. 55.65% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Viet D. Dinh sold 72,207 shares of the stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $35.91, for a total transaction of $2,592,953.37. Following the completion of the sale, the insider now owns 49,384 shares in the company, valued at approximately $1,773,379.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 19.86% of the company’s stock.
FOX Stock Up 1.9 %
FOX (NASDAQ:FOXA – Get Rating) last announced its earnings results on Wednesday, February 8th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.02. The business had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.58 billion. FOX had a return on equity of 15.71% and a net margin of 10.55%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.13 EPS. As a group, analysts expect that Fox Co. will post 3.49 EPS for the current fiscal year.
FOX Dividend Announcement
The firm also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, March 29th. Stockholders of record on Wednesday, March 1st will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, February 28th. This represents a dividend yield of 1.4%. FOX’s dividend payout ratio is presently 18.32%.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on FOXA. Morgan Stanley upped their target price on FOX from $37.00 to $39.00 and gave the company an “equal weight” rating in a research note on Thursday, February 9th. Wells Fargo & Company upped their target price on FOX from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, February 8th. Citigroup upped their target price on FOX from $35.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, February 13th. StockNews.com cut FOX from a “buy” rating to a “hold” rating in a research note on Saturday, November 26th. Finally, Macquarie cut their target price on FOX from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 4th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $37.88.
Fox Corp. delivers news, sports and entertainment content. The company provides news under the brands FOX News Media, FOX Sports, FOX Entertainment and FOX Television Stations. It operates through three segments: Cable Network Programming, Television, and Other, Corporate and Eliminations. The Cable Network Programming segment consists of the production and licensing of news and sports content distributed primarily through traditional cable television systems, direct broadcast satellite operators and telecommunication companies and online multi-channel video programming distributors.
- Get a free copy of the StockNews.com research report on FOX (FOXA)
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